Speeding up Services Inventory and Logistics Management
The biggest challenge for any industry player is to trap the market segments and identify the potential prospects.
The need of the hour is to have a centralised database management engine, which can keep track of the list of the entities involved in the business ever
with emerging business needs and profound knowledge centres, geographical barriers have reduced by a significant percentage. In the era of smartphones, technology has enabled the movement of goods in one click. The fast processing of customers’ orders, in turn meets the customer satisfaction and the revenue bar for the industry player rises. The domain of logistics has brought splendid opportunity and a drift in the form of outsourcing of business. Niche players in the market look for 3PL services to execute the job with significant service level and in a cost effective manner.
Amongst all, the biggest challenge for any industry player is to trap the market segments and identify the potential prospects. Within the logistic realm, specifically focussing on the forwarding domain, the major time-consuming task is to manage the customer and vendor database with whom the company is dealing on the daily basis, along with the associated rates.
challenges persisting in the industry a) Conventional database management through carbon stationary and Excel sheets b) Quoted rates, not toning the industry
standards c) Mismatch in tariffs as per existing
market rates d) Filing compliance with regulatory
bodies, especially in sea transport e) Collaborative platform not in sync for
the cross functional teams f) Extensive billing modules g) Mutually exclusive solutions
requisite solution In the fluctuating trends and traditions, generally software solutions are considered to have a magic wand providing significant insight and inimitable solutions to the problems existing in the sphere. There has been a tremendous growth witnessed in the software solution providers, for the logistic domain. However, the industry is in need of a solution which can effectively cater to the challenges faced and provides an agreeable and best possible solution which increases the productivity extensively.
extensive Database The need of the hour is to have a centralised database management engine, which can keep track of the list of the entities involved in the business ever. A proper system which can ensure registering of new potentials either as customers or vendors which can be traced at a future date for reference. Such a system would also act as a central repository of rates around the globe, seeking almost negligible references through Excel spreadsheets and through the shuffling amongst the carbon stationary. This would significantly reduce the time and efforts of the end users.
Disparity in the industry standards With uneven business trends, the rating standards and pattern also changes in the industry. It becomes very tedious to keep track of such variations on carbon stationary. To ease this, industry is in need of a solution, wherein, one click would list out the set of existing rates and can provide an analysis of the real time tariffs. Such a solution would also turn out to be a cost effective, time effective & transparency between cross
functional teams would improve thereby increasing the productivity.
Single click invoicing
If any software system has too much manual intervention then the overall productivity of such software solutions is not up to the mark and they would not contribute much in the ROI. In single click entire process should get automated. And as an output, customer should have a handy invoice ready to be posted to the accounts.
Generally the software solution providers focus on resolving the problems at individual levels. However, the major component of complexity exists in the integrated version of such requirements. The industry today, demands an integrated suite which caters to the persisting problems as a whole bunch of solution, seeking minimal efforts from end users.
reducing carbon stationary and optimising rate with erating
Considering the on-going changes and drifts in forwarding industry, Foursoft has developed pricing software which focusses primarily on providing the solutions to the key challenges existing within the realm. They are: a) Centralised DB software, covering all
the geographies. b) The Software is capable enough to accommodate the complete life cycle of the rate management. c) Efficient rate search module which comprehensively reduces the time and efforts. d) The software has capability to be integrated through web services with any external forwarding system. e) Software is well equipped with one click features like sending RFQs to carriers, sending instant quotations to the prospects thereby providing the best in class rating solution for the forwarding domain.
More often, it has been observed that any shipper or equivalent representative publish shipping details in print media in the form known as tenders requesting
If any software system has too much manual intervention then the overall productivity of such software solutions is not up to the mark
forwarders to bid for shipping the goods. If a forwarder has a ready solution available, than immediate succeeding step should be to incorporate the shipment details in the software and look for the best matching rates from the carrier (available in the database). Once the best possible rate from the carrier is identified, then it’s just the question of adding mark-ups to them and put to the fore the bid to the customer. Such automation would bring a tremendous break-through in the series of operation performed to respond to such tenders.
(The author Pragya Agrawal is Functional Consultant, PMM Team, Foursoft)